SAN JOSE, Calif., Dec. 7, 1999 - Cisco Systems, Inc. today announced it has completed the acquisition of V-Bits, Inc. of San Jose, CA.
On November 11, 1999, Cisco announced a definitive agreement to acquire privately-held V-Bits, a leading provider of standards-based digital video processing systems for cable television service providers. Under the terms of the agreement, shares of Cisco common stock worth $128 million were exchanged for all outstanding shares, options and warrants of V-Bits. The transaction will be accounted for as a pooling of interests.
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